Breast Cancer Life Insurance

Do you
have breast cancer and you’re looking for life insurance protection?

Whether you
are a breast cancer survivor or you currently have cancer of the breast and are undergoing treatment, you may
qualify for a life insurance policy.

Today, through improved screening and awareness, a woman’s risk of dying from breast cancer dropped 39% between 1989 and 2015 according to cancer.org.

It’s still one of the most common health issues presented to insurance carriers. Which indicates the insurance industry has a great deal of experience analyzing and underwriting the risk presented by a breast cancer applicant for life insurance coverage.

One of the most common impairments when underwriting life insurance is a history of breast cancer.

With the advances in medical care, abilities for treatment, and increasing awareness and self-exams we’re seeing more and more cases of women that are survivors of cancer and create a unique underwriting challenge for life insurers.

However, the good news is that if it is detected early and
treated properly, those with breast cancer may qualify for affordable life
insurance.

The fact is that there are many people who apply for life
insurance with breast cancer – this is a common health issue. The insurance
industry has a lot of experience underwriting this health risk and you have
access to life insurers that offer affordable coverage based on your personal
situation and health history.

Life insurance companies are the most lenient with
applicants who have been diagnosed with in-situ cancer that has not spread
to other parts of the body.

There are two types of in-situ breast cancer, ductal
carcinomas and lobular carcinomas.

Ductal Carcinomas

Applicants who have been diagnosed with an in-situ ductal
carcinoma may qualify for standard rates without a waiting period (Transamerica
only) if the cancer was treated with radiation or a bilateral mastectomy.

Two years past treatment, most companies will offer standard
rates.

If the ductal carcinoma was treated by lumpectomy, a simple
mastectomy, or a bilateral mastectomy and no radiation, table 2 rates may be
available from Transamerica as soon as treatment is finished.

After 3 years, the applicant may qualify for a standard rate
with other carriers.

Lobular Carcinoma

If the applicant was diagnosed with an in-situ lobular
carcinoma that was treated with a lumpectomy only or a mastectomy, they may
qualify for a standard rate from Transamerica as soon as they finish treatment.

Other companies typically offer a table 2 rate class unless
the applicant is 60 or older, in which case, standard rates may be
available.

Stage 1
Carcinoma

All companies will postpone applicants for at least 1-3
years after their treatment has ended. With Prudential, an applicant with a
low-grade Stage 1a or 1b tumor may qualify for standard rates 1 year after
treatment has ended. (Tumor must be 1.1 mm to 10 mm in size).

All other companies have at least a 2-3 year waiting period
for standard rates plus a flat extra of $5 to $10 dollars per $1,000 dollars of
coverage. Most companies will charge a flat extra until you are 5 to 10 years
past treatment. At this time, your flat extra will drop off and you’ll only be
responsible for the standard rate class premiums.

If you wait to apply for 5 to 10 years past treatment, you
may qualify for a standard rate class with some companies.

Stage 2
Carcinoma

All companies will postpone applicants for at least 3-5
years after their treatment has ended.

After the 3 to 5 year waiting period, the applicant may
qualify for standard rates plus a flat extra of $10 to $20 dollars per $1,000
dollars of coverage. Most companies will charge a declining flat extra until
you are 7 to 10 years past treatment. At this time, your flat extra will drop
off and you’ll only be responsible for the standard rate class premiums.

If you wait to apply for 7 to 10 years past treatment, you
may qualify for a standard or table 2 rate with some companies,

Stage 3 Carcinoma

All companies will postpone applicants for at least 10 years
after their treatment has ended.

After the 10-year waiting period, the applicant may qualify
for a standard rate plus a flat extra of $10 to $20 dollars per $1,000 dollars
of coverage. Most companies will charge a declining flat extra until you are at
least to 15 years past treatment. At this time, your flat extra will drop off
and you’ll only be responsible for the table 2 rate class premiums.

If you wait to apply for 15 years past treatment, you may
qualify for table 2 rates with some companies.

*Please note, a limited number of companies offer insurance
to applicants who have been treated for stage 3 breast cancer.

Breast Cancer Questions for Life Insurance

What was the age at diagnosis and date the treatment ended?

What was the specific type of breast cancer?

What was the stage of the cancer?

Was the cancer graded? If so, what grade was assigned – Grade I, Grade II or Grade III?

How was it treated? Lumpectomy or Mastectomy? Any chemotherapy or radiation?

Any metastasis or lymph node involvement?

If known, are there any positive receptors and what is the size of the tumor?

Do you take any medication at this time?

Has there been any evidence of recurrence?

Has there ever been any kind of other cancer diagnosed for the proposed insured?

Does the proposed insured have any other medical condition?

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